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The case is being investigated.
It was reported on May 31, 2023, that staff from HYBE are being investigated for insider buying and selling. It was reported that they offered their shares after gaining info throughout the firm.
Three members of employees have been positioned beneath suspicion of insider inventory buying and selling utilizing info relating to the actions of world idol teams. The Financial Supervisory Service’s Capital Market Special Judicial Police despatched the circumstances to the Seoul Southern District Prosectors’ Office with indictment opinions.
According to the envoy, these three staff have been in command of idol-related work in a label inside HYBE. They had offered their inventory holdings earlier than information that BTS would quickly be suspending group actions formally broke. After the non permanent suspension was introduced on June 14, 2022, HYBE shares plunged to 24.87% the very subsequent day. By promoting the shares earlier than the information broke out, these staff prevented losses of as much as ₩200 million KRW (about $152,000 USD) in complete, in response to the market costs on June 15, 2022.
The three staff have been accused of violating Article 174 of the Capital Markets Act, due to the disposal of their shares, after internally studying about BTS’s plans. The Financial Supervisory Service plans to completely examine and sternly reply to any actions that undermine the honest buying and selling order of the capital market.
BTS
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Content Source: www.koreaboo.com